An Economist Bubble?

The market for talent is certainly heating up:

The moves suggest the battle for star economists is heating up. Economics powerhouses like Harvard and MIT have the resources and reputations to easily buy up the best talent. But up-and-coming departments “need to make a bunch of hires at the same time, so that each [hire] will be confident there will be plenty of good people to work with,” said Mr. Wolfers of the Wharton School. He and Ms. Stevenson plan to decide on their destination in coming weeks.

Established or not, economists are hot commodities. Last year, the average starting salary for new assistant economics professors was nearly $112,000 – the highest ever in inflation-adjusted terms and one of the highest across academic departments, according to the American Economic Association.